Fisher Divestment Tops $3 Billion After Texas Pension Bolts
- Goldman Sachs, L.A. pension fired Fisher Investments this week
- Investors flee after founder made vulgar remarks at conference
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The state pension fund of Texas is pulling $350 million from Fisher Investments as more investors flee the firm following vulgar comments from its founder.
“With respect to our fiduciary duty, we are defunding Fisher Investments,” the pension said in a statement Friday. Fisher had served as an external manager in the international equities portfolio with $350 million under management as of Sept. 30.